The term is used to refer to the entire scope of strategic-decision making activity in an organization. Strategic management as a concept has evolved over time and will continue to evolve. As result there are a variety of meanings and interpretations depending on the author and sources.

For example, some scholars and practitioners the term strategic planning connote the total strategic management activities. Moreover, sometimes managers use the terms strategic management, strategic planning, and long-range planning interchangeable. Finally, some of the phrases are used interchangeably with strategic management are strategy and policy formulation, and business policy.

Strategic Management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives.

Evaluating to what degree action plans have been successful and making changes when desired results are not being produced.

Strategic management necessitates a commitment to strategic, which represents an organization’s ability to set goals to determine the decisions and actions that need to be taken to produce those results.